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North Carolina & the American Jobs Act

Posted By Ed McLenaghan On September 14, 2011 @ 1:56 pm In Uncategorized | Comments Disabled

With President Obama in Raleigh today speaking about his proposed American Jobs Act [1], it’s worth taking a moment to note the potential impact of the bill on North Carolinians should it pass Congress.

According to data [2]released by the White House, the American Jobs Act would:

  • Cut workers’ payroll tax in half, resulting in a tax cut of $1,300 for a family at North Carolina’s median income of about $42,000,
  • Give a payroll tax cut to 170,000 small businesses in North Carolina,
  • Provide North Carolina with nearly $800 million for highway and transit modernization projects, $676 million to repair and upgrade public schools, and $163 million to modernize community colleges, creating an estimated 20,000 or more local jobs,
  • Provide over $900 million to support 13,400 jobs for teachers and first responders,
  • Prevent 90,400 out-of-work North Carolinians from losing their unemployment insurance benefits, and
  • Create a Pathways Back to Work Fund [3] that could put 4,000 adults and 12,700 youth back to work.

In the coming days, we aim to take a more in-depth look at the likely impact of the separate parts of the American Jobs Act on North Carolinians and the state’s economy.

Article printed from The Progressive Pulse: http://pulse.ncpolicywatch.org

URL to article: http://pulse.ncpolicywatch.org/2011/09/14/north-carolina-the-american-jobs-act/

URLs in this post:

[1] American Jobs Act: http://www.whitehouse.gov/the-press-office/2011/09/08/fact-sheet-american-jobs-act

[2] data : http://www.whitehouse.gov/sites/default/files/THE_AMERICAN_JOBS_ACT_Impact_NC.pdf

[3] Pathways Back to Work Fund: http://www.americanjobsact.com/pathways-to-work.html

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